Vinashin Loan Woes May Raise Vietnam State Firm Borrowing Costs

Vietnam National Coal-Mineral Industries Group and other state companies in the Southeast Asian nation may have to pay more to borrow as the near-bankrupt national shipbuilder struggles to repay a foreign-currency loan.

Vietnam National Coal may have its rating downgraded as a debt restructuring at Vietnam Shipbuilding Industry Group, known as Vinashin, spurs a reassessment of government support for state-owned enterprises, Moody’s Investors Service said on Dec. 1. Vinashin asked lenders for a delay on a $60 million loan repayment due Dec. 20, the Wall Street Journal reported today, citing a letter from Chief Executive Officer Truong Van Tuyen.